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Author Question: Over what range of prices does a surplus arise? What happens to the price when there is a surplus? ... (Read 189 times)

daltonest1984

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on: Jun 29, 2018
Over what range of prices does a surplus arise? What happens to the price when there is a surplus?
 
  What will be an ideal response?

Question 2

An advantage of the personal consumption expenditures price index (PCE) over the Consumer Price Index (CPI) as a measure of inflation is that the PCE
 
  A) is a fixed market-basket price index that does not allow the mix of products to change each year.
  B) includes the prices of consumer services, but not consumer goods.
  C) includes the prices of more consumer goods and services.
  D) includes the prices of consumer goods, but not consumer services.


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Shshxj

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A surplus arises at market prices above the equilibrium price. A surplus causes the price to fall, decreasing quantity supplied and increasing quantity demanded until the equilibrium price is attained.

Answer to Question 2

C


daltonest1984

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

miss.ashley

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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